SEGRO, a UK Real Estate Investment Trust (REIT), and Pure Data Centres Group Limited (Pure DC), a London-based privately owned hyperscale developer and operator, have formed a second 50:50 joint venture (JV) to develop a fully fitted data center in Paris, targeting a pre-let agreement with a global hyperscaler.
According to the terms of the joint venture, SEGRO will contribute the site and 75MVA of pre-secured power capacity from its European power portfolio, while Pure DC will provide the remaining equity and its data center development and operational expertise. The JV is expected to require £0.8 billion (US$ 1 billion) of gross capital, including the value of SEGRO’s powered land contribution. SEGRO’s cash equity contribution is expected to be approximately £60 million (US$ 80 million) over the construction period.
While some details like the name of the global hyperscale client or the exact location of the project remain unavailable, according to a SEGRO press release, the data center project will be located in a key Paris Availability Zone and will deliver a 48MW IT load facility.
David Sleath, CEO, SEGRO, said, “This second joint venture with Pure DC builds on the momentum across our European data center platform and demonstrates how SEGRO can crystallise the significant value in its 3.0GVA power bank through a repeatable, capital-efficient model. This project in Paris will be our first data center development in Continental Europe combining our assembled, prime, power-secured sites with Pure DC’s technical expertise.”
Gary Wojtaszek, Pure DC Executive Chairman and Interim-CEO Pure DC, said, “Large-scale powered sites in Europe’s leading metropolitan markets have become one of the scarcest and most strategically valuable resources in digital infrastructure.”
Wojtaszek continues, “Demand for digital infrastructure across Europe is accelerating, but access to suitable sites with secured power and favourable planning positions in the FLAP-D markets remains the defining constraint. This makes the portfolio that SEGRO has assembled across Europe’s major metropolitan markets an exceptionally rare asset.”
The companies plan to sign a long-term net lease with a global hyperscaler before construction begins, subject to planning approval and lease commitments. The facility will be built in phases, with the first phase expected to be completed after three years and the final phase approximately one year later.
The Paris project follows the companies’ first JV at Premier Park in Park Royal, London whose development received final planning approval in March 2026, ahead of schedule, and the partners are in discussions with two potential hyperscale customers interested in taking the site’s full capacity.